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Life insurance for diabetics | How to find affordable coverage



  Diabetics who control blood sugar levels

Understanding and finding affordable life insurance can be a juggernaut. When looking at all the types of insurance that are available, life insurance is probably the least appealing to discuss. No one likes to think about their mortality, but having a plan for your loved ones if you die can give both you and your family peace of mind.

As a diabetic, you may feel that you are finding the best life insurance. prices are excluded. Trust me finding affordable life insurance companies is not impossible.

It is possible to qualify for good and in some cases the best prices for life insurance with diabetes.

Since each life insurance company has a different set of guidelines for insurance, it can be overwhelming to try to prepare for a life insurance application. We can help you find the right life insurance for your medical history and overall budget.

What is diabetes?

Every time you eat, your body converts food into glucose or sugar, as fuel for your body. The only way this process works is through a hormone called insulin. If your body cannot produce this hormone, your body cannot make the conversion and your sugar levels build up in your blood.

There are three main types of diabetes. Let's quickly go through the three types before we dive into finding the best diabetes health insurance:

Gestational diabetes

This type of diabetes usually occurs only during pregnancy. With all the hormonal changes that change during pregnancy, the body cannot process insulin, which causes the blood sugar level to rise. Because this type of diabetes is resolved after the baby is delivered, each insurance company handles this category differently.


Existing health conditions?

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Type 1 diabetes

Known as juvenile diabetes, this type is commonly detected in children and young adolescents. In this case, the pancreas is completely unable to produce insulin. To keep your blood sugar levels in safe range, a type 1 diabetic typically relies on an insulin pump or injection to administer what the body cannot produce. Life insurance policyholders usually look at type 1 differently than all other types of diabetes because of its early diagnosis.

Type 2 diabetes

This type of diabetes occurs later in life when the body can produce insulin, but not enough to keep blood sugar levels down to a healthy level. Type 2 diabetics make up about 90% of all diabetic patients.

According to the CDC, 34.2 million people will have diabetes by 2020 (approximately 10.5% of the US population). The American Diabetes Association says 30 million people in the United States have been diagnosed, while 84 million Americans have been diagnosed with diabetes.

  • 9 million adults and children have been diagnosed with diabetes, leaving 7.3 million as undiagnosed diabetics in the United States.
  • 2% of diabetics fall into category 1 type diabetes, which corresponds to about 1.6 million people.
  • 5 million Americans, 18 years and older, were diagnosed with diabetes 2018–210,000 of these cases, children and adolescents younger than age 20 years.
  • A total of 88 million adults (18 years and older) are prediabetic (34.5% of the American adult population). Of the 88 million, adults aged 65 and older claim over 24.2%.

Depending on which insurance options you choose, whole life insurance, life insurance or no life insurance, to name a few, understands that EVERY life insurance company has a different set of guidelines for insurance when awarding a diabetic insurance policy.

RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance

Diabetes is a major risk factor for serious health conditions such as stroke, heart disease, kidney disease or heart attack. As it is considered high risk, life insurance companies will need a complete and in-depth look at your current medical history, medical records and family history to assign a better tax rate for your specific type of insurance.

Can You Find Affordable Life Insurance for Diabetics?

As someone who specializes in finding affordable coverage for clients with a difficult medical history, I am often contacted by diabetics who are looking for a good deal.

As I am an independent life insurance agent, I can shop around several carriers to find the cheapest life insurance quote from some of the best life insurance companies.

Here are some recent offers I found:

  • 64 year old male 5 ′ 10, 235 pounds, non-smoker, 4 years since diagnosis.
    • On antihypertensive drugs and cholesterol, on two diabetes medications and taking 1 insulin injection per day.
    • Recently a1c was 6.9.
    • RBC / Liberty Life offered standard non-tobacco .
  • 69 year old male 5′10, 213 pounds, non-smoker, 6 years since diagnosis.
    • Only on 1 with Glucophage, for diabetes, it also with diet and exercises 3 times a week.
    • Latest a1c was 7.2.
    • ING / Reliastar's offer was standard non-tobacco with 2 tables .

One of my insurance companies will give their preferred best rating if your average a1c level for the past year is 6.5 or lower along with the level of your Laboratories

However, there are other variables here, but you can see if some companies will possibly give their best rating, there is definitely affordable life insurance for diabetics.


<img loading = "lazy" src = "https://www.insuranceblogbychris.com/wp-content/uploads/2018/03/Life-Insurance-No-Exam-.png" alt = "Life Insurance No Survey


<img loading = "lazy" src = "https://www.insuranceblogbychris.com/wp-content/uploads/2018/03/Life-Insurance-No-Exam-.png" alt = "19659043] Jump over the needles!

Do you want to take the "pain" out of life insurance? We do not blame you! Bestow is one of our most recommended companies without a degree that offers 10 and 20 year plans up to 55 years. See if you qualify for "no degree" today.

The quote is fast, easy, and free! [19659046] Life insurance classifications for diabetics

As a diabetic, you pose a common risk to the life insurance company.

Let's take a closer look at what insurers use to assign your classification:

  • Driving record
  • Hobbies
  • Family medical history
  • Current medical records
  • Medical examination
  • Current doctors' telephone numbers, addresses 19659021] Medicines with corresponding doses

Life insurance companies assign you different health classes, ranging from mild to severe. There are four levels that life insurance companies can place you in:

  1. Preferred Plus: This category has the lowest risk for companies and is awarded the best life insurance levels. They are usually diabetics with lower A1C levels and blood sugar levels. They generally maintain an overall healthy lifestyle.
  2. Preferred: Preferred individuals do not have "excellent" health but are still considered a lower health risk. Although they may not get the best prices, they still get extremely affordable coverage.
  3. Default: This category contains "average" individuals, which means that they are usually average in height and weight and have average health. They are awarded the standard prize.
  4. Understandard: Substandard individuals are the risky group to cover because they usually have a serious medical diagnosis. There are different levels of difficulty in this category, depending on the severity of the risks.

If your insurance does not meet the requirements for a substandard classification, there are companies that cover you. We go through the different types of insurance in a later paragraph.

Here are some common variables that can affect the rates you can get as a diabetic seeking life insurance coverage.

RELATED: Check Sample Life Insurance Rates By Age (No Personal Information Required)

Treatment

Treating Your Diabetes Helps You Have An Easier Time To reduce the cost of life insurance. Maintaining a healthy lifestyle and following up on doctor appointments are good starting points.

Ask yourself, can you keep your diabetes under control with diet and exercise alone, or do you need to take a pill? Or are you insulin dependent? Type 1 diabetics pose a higher risk to life insurance companies due to their diabetes duration.

Insurance companies like to see fewer medications and good health for better ratings.

Is your diabetes under good control?

If you know your a1c level and are lower than 7.0, it is considered good control by many insurance companies. Provided there are no other health issues, standard prices (or possibly better) may be possible.

Between 7.0 and 7.5 is considered the average check, and you can still get insurance.

Weight, Tobacco Use and Other Medical Problems

If you smoke cigarettes, have retinopathy or are overweight, these combine your risk factor as a diabetic and make you a risky client to insure. (clogged arteries) or if you have ever had a heart attack, this also multiplies the risk of insuring diabetics, so expect substandard ratings in your insurance plan.

Age and time since diagnosis

Insurance companies give better ratings to people who are older when they are diagnosed and if they have been diagnosed in recent years.

Because diabetes is such a slow progression disease, a 65-year-old newly diagnosed with diabetes is more likely to go over for other reasons compared to diabetes.

  Compare Prices on Long Term Life Insurance

Types of Life Insurance for Diabetics

There are several types of life insurance available for diabetics, but two dominant ones – life insurance and whole life insurance. 19659003] Let's break these down a little more:

Term Life Insurance

Term life insurance is just as it sounds. You can buy a specific term policy (10,15, 20 or even 40 years) to cover you and your loved ones. It is generally the most popular option as it tends to be the cheaper option. Because it only covers a certain number of years, when the insurance expires, your coverage decreases.

Your next option is to either go through the application process at a higher rate or see if your insurance can be transformed into a permanent life. insurance policy. It is a good idea to set your policies if you go on the semester path.

For example, you can buy different maturities that expire at different times, which lowers your coverage as you age in the hope that you will have better finances. position then, no longer need so much coverage.

The entire life insurance policy

The entire life insurance, also known as permanent life insurance, that's just it, it is permanent. As long as you pay the monthly premiums, you will be covered, no matter what health conditions may arise later in life.

These specific types of life insurance are also large investments. If you survive the term of your insurance, you will get back all the monthly premiums you have paid during your period.

You can also borrow against the cash value of your insurance if needed to pay for a vacation, children's college education. or even supplement income. The amount owed would only be deducted from the death benefit when you pass.

Guaranteed Issue Policy

Also known as a no degree policy, these insurances usually do not require the paramedical examination the other types of insurances required. They guarantee acceptance, no matter what type of health risk or medical condition you may have.

The disadvantage of a guaranteed issuance policy is twice as high – the premium prices are much higher due to the large risk that covers you, and the cash value of these insurances tends to be much less than whole and long life policies.

Life Insurance Courses for Diabetics

It is important to use an independent agent to help you find life insurance with diabetes. [19659003] In the example of my 69-year-old above, I posted the details of his health to about a dozen different companies, and several business insurances came back with standard offers with two tables.

If my client had gone to an agent who did not take the time to trade the case, he would have stopped paying 50% more in premium than he needed !

If you have any questions about life insurance for diabetes, you can get started by getting an instant quote with our form at the top right of this page.


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* While we do our utmost to keep our site up to date, please be aware that "current" information on this site, such as quotation estimates or relevant company information may only be accurate as of the last day of editing. Huntley Wealth & Insurance Services and its representatives do not provide legal or tax advice. Contact your own legal or tax advisor.


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